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Axiotron Receives Conditional Approval to Go Public


Proposed Transaction Would Raise at Least $5 Million – Shares in Modbook Manufacturer Would Be Listed on TSX Venture Exchange

El SEGUNDO, CALIFORNIA – High-tech solution hardware provider Axiotron, Inc. (“Axiotron”) announced today that the TSX Venture Exchange has conditionally approved a proposed transaction with Toronto-based Vendome Capital Corp. (“Vendome”) that, subject to the deal’s closure, would raise at least $5 million and authorize Axiotron’s shares to trade publicly at the TSX Venture Exchange in Toronto, Ontario.

Under the proposed transaction, the operations of Axiotron would be folded into Vendome – a capital pool company with cash assets but no operations – and the resulting company would be renamed Axiotron Corp. Shares of Axiotron Corp. would then be listed on the TSX Venture Exchange, one of Canada’s two major stock exchanges. Axiotron anticipates the proposed transaction will close by June 30, 2008, conditioned on final approval from the TSX Venture Exchange.

Axiotron Corp.’s operations and corporate headquarters would remain at their current location in El Segundo, California.

Net proceeds from the proposed transaction would be used to finance continued production of the Modbook – Axiotron’s award-winning tablet Mac computer – and for general working capital purposes and product development initiatives.

Providing continuation of the vision and leadership that has guided Axiotron for over three years, Andreas E. Haas, the founder and current chief executive officer of Axiotron, would become the CEO of Axiotron Corp. Claude Ayache, the current president and chief financial officer of Vendome, would be appointed as the CFO of Axiotron Corp. Both Mr. Haas and Mr. Ayache would also serve on Axiotron Corp.’s board of directors. Mark Lawrence – the managing partner of the Toronto and Ottawa, Ontario-based business advisory and corporate finance firm NorthCrest Partners Inc. – would become chairman of the board of directors of Axiotron Corp.

As part of the proposed transaction, Axiotron has engaged Toronto, Ontario-based investment dealer Fraser Mackenzie Limited as the lead agent to raise at least $5 million in a concurrent private placement. Also participating in the concurrent private placement are Toronto, Ontario-based investment banks Dominick & Dominick Securities Inc., and M Partners Inc.

Interested parties wishing to get more information about the concurrent private placement should contact Philip W. Benson of Fraser Mackenzie Limited at (416) 955-0990, ext. 233.

Documents relevant to the proposed transaction can be found under Vendome Capital Corp. at SEDAR, the document filing and retrieval website for Canadian public companies.


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